Mortgage payment calculator

* These calculations are based on the information you provide; they are approximate and for information purposes only. Actual payment amounts may differ and will be determined at the time of your application. Please do not rely on this calculator results when making financial decisions; please visit your branch or speak to a mortgage specialist. Actual mortgage rates may fluctuate and are subject to change at any time without notice. The amortization period is the time it takes to pay off a mortgage in full, including interest. The maximum amortization period may be 25 or 30 years, depending on the mortgage details. For anyone buying a newly-constructed home, or for first-time homebuyers of a new or existing home, the maximum amortization for an insured mortgage is 30 years. In other cases, the maximum amortization is 25 years. Mortgages with down payments under 20% are considered insured and require default insurance.

**  These calculations are based on the information you provide; they are approximate and for information purposes only. Actual payment amounts may differ and will be determined at the time of your application. Please do not rely on this calculator results when making financial decisions; please visit your branch or speak to a mortgage specialist, who can speak with you about the terms and conditions of Creditor Insurance for CIBC Mortgages (“Creditor Insurance”) and whether the product is appropriate for you. Actual mortgage rates may fluctuate and are subject to change at any time without notice. The maximum amortization period may be 25 or 30 years, depending on the mortgage details. For anyone buying a newly-constructed home, or for first-time homebuyers of a new or existing home, the maximum amortization for an insured mortgage is 30 years. In other cases, the maximum amortization is 25 years.

For Mortgage Life Insurance & Mortgage Critical Illness Insurance, the creditor insurance calculations assume that the mortgage amount or purchase price you provided is 100% insured, up to $1,000,000 for Mortgage Life Insurance and $500,000 for Critical Illness Insurance.

For Mortgage Disability Insurance and Mortgage Disability Insurance Plus, creditor insurance calculations are based on your total monthly mortgage loan payment (rounded to the nearest $100) to pay a disability insurance benefit of up to $6,500 a month or and/or job loss benefit of up to $6,500.  If your mortgage loan payment frequency is other than monthly, the calculation will be adjusted as set out in the sample Certificate of Insurance linked below.

Mortgage creditor insurance can help pay off, reduce your balance or cover your payments, should the unexpected occur. Choose insurance that meets your needs for your CIBC Mortgage Loan to help financially protect against disability, involuntary job loss, critical illness or in the event of your death. For the complete terms and conditions, review the sample Certificate of Insurance (PDF, 285 KB).

Creditor Insurance for CIBC Mortgages is an optional creditor's group insurance underwritten by The Canada Life Assurance Company and administered by Canada Life and CIBC. You may contact Canada Life at 1 800 387-4495 or visit canadalife.com.

^† Where applicable, the estimated creditor insurance premiums displayed are inclusive of the tiered discount and taxes. Tiered discounts are applicable if your initial insured mortgage amount is over $300,000 or your fixed monthly benefit amount is over $1,500 a month. Impact of rounding may result in slight variances in the amounts displayed. For more information on the tiered discount and how it’s calculated, please refer to the sample Certificate of Insurance (PDF, 285 KB)